Small Satellite Market Synopsis

Small Satellite Market Size Was Valued at USD 3.74 Billion in 2023, and is Projected to Reach USD 15.13 Billion by 2032, Growing at a CAGR of 16.8% From 2024-2032.

The small satellite is a disruptive technology in space industries. Traditionally, space industries were dominated by satellites which have thousands of kilograms and are bulky and expensive. Small satellites denote a new generation of miniaturized satellites that, by taking advantage of modern technologies (e.g., integrated circuits, digital signal processing, MEMS, and additive manufacturing), can achieve a significant reduction in volume, mass, development time, and cost of satellites.

• The launch of the first artificial Earth “small” satellite, Sputnik 1, triggered the space race in 1957. In the decades that followed, there was the development of increasingly larger satellites to provide reliable services from space over extended periods. Since then, with the increasing demand for radio-frequency spectrum and satellite-orbit usages and sustained growth of technological breakthroughs and innovation of space communication along with the booming capabilities in satellite manufacturing, a dramatic rise in the development of small satellites and systems has been witnessed, especially over the last ten years. The small satellite industry is experiencing an era of unprecedented change.         

• During recent decades, small satellites, including CubeSats, NanoSats, MiniSats, and MicroSats, have undergone rapid developments, and are playing an increasingly larger role in exploration, technology demonstration, scientific research, and education. These miniature satellites provide a low-cost platform for missions, including planetary space exploration, Earth observations, fundamental Earth and space science, and developing precursor science instruments like laser communications and millimeter-wave communications for inter-satellite and inter-satellite links, and autonomous movement capabilities.
• The small Satellite also allows educators an inexpensive means to engage students in all phases of satellite development, operation, and exploitation through real-world, hands-on research and development experience on rideshare launch opportunities. Several miniaturized satellites can form spaceborne wireless sensor networks in space, which are also going to play an important role in the Internet of Space (IoS) of the future.

Typical Characteristics of Small Satellites

Small Satellite Market Trend Analysis

Rising Number of Space Exploration Missions

• Small spacecraft have been an integral part of space study, exploration, and commercialization since humankind’s first steps into low Earth orbit with Sputnik-1 and Explorer-1. With generally lower complexity and fewer payloads, small satellites can be produced at an increased cadence than larger ones. Rapid development in small satellites provides organizations with more agility in meeting requirements and adapting to new technologies for space exploration missions, these factors drive the growth of the small satellite market.
• For instance, the Department of Defense Operationally Responsive Space (ORS) program pursues small satellites to meet its primary goal to rapidly assemble, test, and launch satellites in support of warfighters. Rapid development can also drive costs down such that use of small satellites may allow more frequent space research missions and technology demonstrations.
• Small Satellites are Affordability, lower construction, launch, and operating costs, making remote sensing and space exploration more accessible to companies and organizations of all sizes. Also, relatively short development and launch times for small satellites allow for faster deployment of space missions. these factors booming the small satellite market.

• As per the company database, the graph shows the growth in the launch of the small satellite. In 2022, the number of small satellites launched worldwide amounted to 2,304, which represented an increase of around 32.2 percent in comparison to the small satellite launched a year earlier. Nowadays small satellites are widely used in space exploration missions due to the various advantages of small satellites like lower cost, lower weight less time to launch, etc.

Growing Demand For Earth Observation

• Small satellites offer new opportunities to address the core observational requirements of both operational and research missions for earth observation. Small satellites, in particular single-sensor platforms, provide great architectural and programmatic flexibility. They offer attractive features with respect to design, observing strategy, faster "time to science" for new sensors, rapid technology infusion, replenishment of individual failed sensors, and robustness about budget and schedule uncertainties.
• Detailed data on environmental indicators including glacier melt, deforestation, sea level rise, and changes in land use can be obtained by small satellites outfitted with sophisticated instrumentation and high-resolution imaging sensors. For scientists, decision-makers, and environmentalists tackling climate-related issues in the future, this data is precious.
• Small satellites contribute to urban planning and infrastructure development by providing detailed mapping and monitoring of urban areas. They can track urban expansion, analyze transportation networks, monitor infrastructure assets such as roads, bridges, and buildings, and assess environmental impacts of urbanization. This information aids city planners, engineers, and policymakers in making informed decisions about land use, transportation, and sustainable development.

Small Satellite Market Segment Analysis:

Small Satellite Market is Segmented into type orbit, component, application, and end-users.

By Type, Minisatellite segment held the largest share of 42.36% in 2022

• Minisatellites are generally more affordable to design, build, and launch compared to larger satellites. Their smaller size means they require fewer materials and components, which reduces manufacturing and launch costs.
• With advancements in miniaturization of electronics and components, it's now possible to pack a lot of functionality into a small satellite. This allows minisatellites to perform a wide range of tasks despite their compact size.
• Minisatellites can often be developed and deployed much more quickly than larger satellites. This rapid development cycle is attractive to organizations looking to quickly demonstrate new technologies or conduct experiments in space.
• Minisatellites can be used for a variety of applications, including Earth observation, communications, scientific research, and technology demonstration. Their versatility makes them appealing to a wide range of users and industries.
• Minisatellites remain popular among public sector and Government agencies, with ROSCOSMOS, the Italian Defense Ministry, Israel Aerospace Industries Ltd, the National Space Organization (NSPO), and the United States Air Force (USAF) among others, for launching minisatellites for various applications.

By End-User, Commercial segment is expected to dominate the market during the forecast period

• Small satellites are used in the commercial sector widely for various purposes. Due to the expanding number of internet services and mobile users in 2022, the commercial category will hold the largest market share. The growing usage of small satellites for enemy surveillance is propelling the market forward. Commercial applications for small satellites include navigation, telecommunication, weather forecasting, and others.
• The commercial sector in the small satellite market is being driven by a surge in demand for cost-efficient solutions in Earth observation, communication, and data services. Smaller satellites present advantages in terms of lower launch expenses and quicker deployment, which are appealing to businesses aiming to leverage space-based opportunities while managing financial risks.

Small Satellite Market Regional Insights:

INTRODUCTION

RESEARCH OBJECTIVES
RESEARCH METHODOLOGY
RESEARCH PROCESS
SCOPE AND COVERAGE

Market Definition
Key Questions Answered


MARKET SEGMENTATION


EXECUTIVE SUMMARY
MARKET OVERVIEW
GROWTH OPPORTUNITIES BY SEGMENT
MARKET LANDSCAPE

PORTER’S FIVE FORCES ANALYSIS

Bargaining Power Of Supplier
Threat Of New Entrants
Threat Of Substitutes
Competitive Rivalry
Bargaining Power Among Buyers


INDUSTRY VALUE CHAIN ANALYSIS
MARKET DYNAMICS

Drivers
Restraints
Opportunities
Challenges


MARKET TREND ANALYSIS
REGULATORY LANDSCAPE
PESTLE ANALYSIS
PRICE TREND ANALYSIS
PATENT ANALYSIS
TECHNOLOGY EVALUATION
MARKET IMPACT OF THE RUSSIA-UKRAINE WAR

Geopolitical Market Disruptions
Supply Chain Disruptions
Instability in Emerging Markets


ECOSYSTEM


SMALL SATELLITE MARKET BY TYPE (2017-2032)

SMALL SATELLITE MARKET SNAPSHOT AND GROWTH ENGINE
MARKET OVERVIEW
MINISATELLITE

Introduction And Market Overview
Historic And Forecasted Market Size in Value (2017 – 2032F)
Historic And Forecasted Market Size in Volume (2017 – 2032F)
Key Market Trends, Growth Factors And Opportunities
Geographic Segmentation Analysis


MICROSATELLITE
NANOSATELLITE
PICO-SATELLITES
FEMTOSATELLITES


SMALL SATELLITE MARKET BY ORBIT (2017-2032)

SMALL SATELLITE MARKET SNAPSHOT AND GROWTH ENGINE
MARKET OVERVIEW
LOW EARTH ORBIT (LEO)

Introduction And Market Overview
Historic And Forecasted Market Size in Value (2017 – 2032F)
Historic And Forecasted Market Size in Volume (2017 – 2032F)
Key Market Trends, Growth Factors And Opportunities
Geographic Segmentation Analysis


MIDDLE EARTH ORBIT (MEO)
GEOSTATIONARY EARTH ORBIT (GEO)


SMALL SATELLITE MARKET BY COMPONENT (2017-2032)

SMALL SATELLITE MARKET SNAPSHOT AND GROWTH ENGINE
MARKET OVERVIEW
STRUCTURES

Introduction And Market Overview
Historic And Forecasted Market Size in Value (2017 – 2032F)
Historic And Forecasted Market Size in Volume (2017 – 2032F)
Key Market Trends, Growth Factors And Opportunities
Geographic Segmentation Analysis


PAYLOAD
ELECTRIC POWER SYSTEM
SOLAR PANEL AND ANTENNA SYSTEMS
PROPULSION SYSTEMS


SMALL SATELLITE MARKET BY APPLICATION (2017-2032)

SMALL SATELLITE MARKET SNAPSHOT AND GROWTH ENGINE
MARKET OVERVIEW
EARTH OBSERVATION AND REMOTE SENSING

Introduction And Market Overview
Historic And Forecasted Market Size in Value (2017 – 2032F)
Historic And Forecasted Market Size in Volume (2017 – 2032F)
Key Market Trends, Growth Factors And Opportunities
Geographic Segmentation Analysis


SATELLITE COMMUNICATION
SCIENCE AND EXPLORATION
MAPPING AND NAVIGATION
SPACE OBSERVATION


SMALL SATELLITE MARKET BY END-USER (2017-2030)

SMALL SATELLITE MARKET SNAPSHOT AND GROWTH ENGINE
MARKET OVERVIEW
COMMERCIAL

Introduction And Market Overview
Historic And Forecasted Market Size in Value (2017 – 2032F)
Historic And Forecasted Market Size in Volume (2017 – 2032F)
Key Market Trends, Growth Factors And Opportunities
Geographic Segmentation Analysis


ACADEMIC
GOVERNMENT AND MILITARY


COMPANY PROFILES AND COMPETITIVE ANALYSIS

COMPETITIVE LANDSCAPE

Competitive Positioning
SMALL SATELLITE Market Share By Manufacturer (2023)
Industry BCG Matrix
Heat Map Analysis
Mergers & Acquisitions


SPACEX (USA)

Company Overview
Key Executives
Company Snapshot
Role of the Company in the Market
Sustainability and Social Responsibility
Operating Business Segments
Product Portfolio
Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
Key Strategic Moves And Recent Developments
SWOT Analysis


PLANET LABS (USA)
BLUE ORIGIN (USA)
ONEWEB (UK)
SPIRE GLOBAL (USA)
ROCKET LAB (USA/NEW ZEALAND)
BLACKSKY (USA)
AIRBUS DEFENSE AND SPACE (FRANCE)
LOCKHEED MARTIN (USA)
NORTHROP GRUMMAN (USA)
BOEING (USA)
SURREY SATELLITE TECHNOLOGY LTD (UK)
ISRO (INDIAN SPACE RESEARCH ORGANISATION) (INDIA)
THALES ALENIA SPACE (FRANCE/ITALY)
MITSUBISHI ELECTRIC CORPORATION (JAPAN)
BALL AEROSPACE (USA)
NANORACKS (USA)
AXELSPACE CORPORATION (JAPAN)
VIRGIN ORBIT (USA)
TERRAN ORBITAL (USA)
AAC CLYDE SPACE (SWEDEN)
CHINA AEROSPACE SCIENCE AND TECHNOLOGY CORPORATION (CHINA)
GOMSPACE (DENMARK)
CLYDE SPACE (UK)


GLOBAL SMALL SATELLITE MARKET BY REGION

OVERVIEW
NORTH AMERICA

Key Market Trends, Growth Factors And Opportunities
Key Manufacturers
Historic And Forecasted Market Size By Type
Historic And Forecasted Market Size By Orbit
Historic And Forecasted Market Size By Component
Historic And Forecasted Market Size By Application
Historic And Forecasted Market Size By End- User
Historic And Forecasted Market Size By Country

USA
Canada
Mexico




EASTERN EUROPE

Key Market Trends, Growth Factors And Opportunities
Key Manufacturers
Historic And Forecasted Market Size By Segments
Historic And Forecasted Market Size By Country

Russia
Bulgaria
The Czech Republic
Hungary
Poland
Romania
Rest Of Eastern Europe




WESTERN EUROPE

Key Market Trends, Growth Factors And Opportunities
Key Manufacturers
Historic And Forecasted Market Size By Segments
Historic And Forecasted Market Size By Country

Germany
United Kingdom
France
The Netherlands
Italy
Spain
Rest Of Western Europe




ASIA PACIFIC

Key Market Trends, Growth Factors And Opportunities
Key Manufacturers
Historic And Forecasted Market Size By Segments
Historic And Forecasted Market Size By Country

China
India
Japan
South Korea
Malaysia
Thailand
Vietnam
The Philippines
Australia
New-Zealand
Rest Of APAC




MIDDLE EAST & AFRICA

Key Market Trends, Growth Factors And Opportunities
Key Manufacturers
Historic And Forecasted Market Size By Segments
Historic And Forecasted Market Size By Country

Turkey
Bahrain
Kuwait
Saudi Arabia
Qatar
UAE
Israel
South Africa




SOUTH AMERICA

Key Market Trends, Growth Factors And Opportunities
Key Manufacturers
Historic And Forecasted Market Size By Segments
Historic And Forecasted Market Size By Country

Brazil
Argentina
Rest of South America






INVESTMENT ANALYSIS
ANALYST VIEWPOINT AND CONCLUSION

Recommendations and Concluding Analysis
Potential Market Strategies